Finding all the services you need in one place can be a challenge for businesses. With our comprehensive support services getting businesses up and running seamlessly is no longer a challenge.
We will advise you on the best company structure to use for your business plans. Setting up a company can be done within a matter of days and implementing accounting systems and taking care of financial and tax compliance is something we do every day. However, our service doesn’t stop there when there are so many other things to consider, like opening a bank account, finding office space, drafting legal documents, finding employees. If we can’t do this for you, we can put you in touch with the right people who can.
The UK is one of the most popular locations for companies to expand to and offers many benefits
Money laundering regulations for banks are very strict and there can be a great deal of red tape if the circumstances are anything but standard. That’s why so many overseas businesses and individuals encounter delays when setting up a UK bank account. The number of checks and documents that must be provided by the applicant can draw the process of opening an account out to six months. We work together with several major banks and can often assist with the process.
How can overseas companies set up a business in the UK?
The three most common ways of establishing a presence in the UK are via:
Often the incorporation of a private limited company can be the best option for an overseas business to establish a presence in the UK quickly and relatively cheaply.
Setting up a private limited company requires an application to Companies House, where it will be registered. This is known as ‘incorporation’ and means that the company has its own legal identity.
Some companies can be incorporated online, whereas other need to be incorporated by an agent or formation specialist. Unless you are familiar with the requirements, it is best to take advice from a professional to ensure firstly, that a UK corporation will be the best vehicle to achieve your business objectives and secondly that the set up has been done correctly and in accordance with your requirements and UK legal requirements. At Axada, we will initially advise on what the best option is for establishing a presence in the UK and explain the alternatives that are available. If a UK company incorporation is chosen, then we can take care of the entire set up process.
The cost will depend on the number of directors and shareholders involved and the businesses specific constitution requirements. Please contact us for a free quotation.
No specific documents are normally required, however Axada are subject to stringent anti money laundering laws and will require ID and proof of address, as a minimum, of all persons who control or own 25%+ of the shares or fulfil various other criteria.
The holding company incorporation procedure in the UK is exactly the same as the procedure for incorporating a company limited by shares.
Our company incorporation services will begin by assessing whether starting a company in the UK will best serve the objectives of the overseas business. We will go through the alternative options, advise on the advantages and disadvantages, as opposed to using a different entity type. Assuming incorporating a UK company is the best option, we will advise about the naming process and check the availability of your preferred names. We will assist you with completing the set up questionnaire, which asks for details about the directors and shareholders as well as other information needed for the incorporation process. Choosing a standard industry classification code (SIC code), that identifies the industry sector that the business will be operating in, is often very confusing and we will guide you through the long list of options. We can also provide a registered office address for your company, if you don’t have a UK address.
An overseas business can set up a UK entity and it does not need to have an office or staff in the UK to do so. There will be different tax implications if that is the case, as oppose to when the company has a permanent establishment in the UK, with a local office and employees in the UK. The facts are often not totally clear cut and need careful consideration to ensure taxes are declared correctly, therefore it is always wise to take professional advice on these matters.
The steps are the same for all foreign persons and businesses who want to incorporate a UK company.
Online incorporation can be done in most cases, but not all. We do not advise that it is done without taking advice about the implications of incorporating a company and receiving confirmation that this entity type will achieve the business’ objectives. You should be familiar with the UK incorporation process and have taken advice on how to structure the new entity before embarking on an online company registration yourself.
Yes, and as part of our full package of UK company incorporation services, we may in the final step register the company online. Online registration may not be suitable for all companies and in these cases we will register the company via other means.
Using these services, you will simply be sent a form to complete which will form the basis for entering the information on the agents bulk formation system. Normally, there is no guidance provided and cheap formation services will not offer any advice on whether incorporating a limited company will be the best option to achieve your objectives.
We can normally quote a timescale of 1-2 days after we have received all the information from you.
Yes, we can also offer UK LLP incorporation services.
There are a number of annual compliance requirements once a company is registered and we can take care of all of these annual compliance requirements for UK companies, freeing up more time for our clients to concentrate on managing their businesses.
Annual statutory accounts must be prepared and filed at Companies House.
Every year the business must complete a Confirmation Statement (formerly called Annual Return).
Since 6th April 2016 a persons with significant control register (PSC register) must be held and kept up to date. This identifies all persons that have significant control or ownership.
All formal changes, such as a change of director, shareholder or a change of address must be registered at Companies House and specific forms need to be completed either online or in hard copy.
Recording minutes of meetings is very important as this records important decisions and resolutions made by the directors. Even though the keeping of minutes of meetings is a legal requirement it is often neglected by many companies and this can affect due diligence outcome in the event of a sale of the business.
This comprehensive guide is your go-to resource for navigating the intricacies of starting a business in the UK with ease and confidence.
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Axada Ltd registered in England and Wales
VAT NUMBER: 256 420 808
Company Registration Number: 10373235
Axada Ltd registered in England and Wales
VAT NUMBER: 256 420 808
Company Registration Number: 10373235
